The Prospector News

Discovery Silver Announces Warrant Exercises, Resulting in Increased Cash Balance of C$70 million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Discovery Silver Announces Warrant Exercises, Resulting in Increased Cash Balance of C$70 million

 

 

 

 

 

 

Discovery Silver Corp. (TSX-V: DSV) (OTCQX: DSVSF) announces that an aggregate of 23,531,812 common share purchase warrants with an exercise price of C$0.77 were exercised prior to their expiry on June 8, 2022. The exercises resulted in gross proceeds of approximately C$18 million. The Company’s current cash balance has increased to approximately C$70 million.

 

Of the 23,531,812 Warrants that were exercised, Mr. Eric Sprott, through 2176423 Ontario Ltd. (a corporation he beneficially owns), exercised 9,090,909 Warrants for aggregate consideration of C$7 million. As a result of the Warrant exercise, Mr. Sprott now beneficially owns and controls 89,531,045 Shares and 5,555,500 warrants representing approximately 26.2% of the outstanding Shares on a non-diluted basis and approximately 27.3% on a partially diluted basis assuming the exercise of his remaining warrants.

 

About Discovery

Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits and one of the very few that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico, and is supported by an industry leading balance sheet with approximately C$70 million available for aggressive exploration, resource expansion and future development. Discovery was a recipient of the 2020 TSX Venture 50 award and the 2021 OTCQX Best 50 award.

 

Posted June 9, 2022

Share this news article

MORE or "UNCATEGORIZED"


Delta Reports New Gold Intercept at Nova Target in Wedge Area, 4 Kilometres West of Eureka; Follow-Up Drill Program Underway

Delta Reports New Gold Intercept at Nova Target in Wedge Area, 4 ... READ MORE

February 4, 2026

Silver One Announces Closing Of Final Tranche Of $32 Million Financing

Silver One Resources Inc. (TSX-V: SVE) (OTCQX: SLVRF) (FSE: BRK1)... READ MORE

February 4, 2026

SAGA Metals Achieves 100% Drilling Success in 2025—Reports Final Assays from Trapper South at Radar Critical Minerals Project in Labrador

Exceptional grades of Titanium, Vanadium and Iron in all 15 drill... READ MORE

February 4, 2026

Near Surface Intersection Yields 6.58 g/t gold over 10.35 metres

Intersection is within 33 metres from surface and contained in a ... READ MORE

February 4, 2026

Alamos Gold Provides Three-Year Operating Guidance Outlining 46% Production Growth by 2028 at Significantly Lower Costs

Further production growth to one million ounces annually expected... READ MORE

February 4, 2026

Copyright 2026 The Prospector News